AT&T (NYSE:T) Releases Quarterly Earnings Results

AT&T (NYSE:T) posted its quarterly earnings results on Thursday. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.10, MarketWatch Earnings reports. The company had revenue of $44.05 billion for the quarter, compared to analysts’ expectations of $42.39 billion. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. AT&T updated its FY 2021 guidance to EPS and its FY21 guidance to $3.21-3.34 EPS.

Shares of AT&T stock traded up $0.14 on Thursday, hitting $28.04. 1,293,031 shares of the company traded hands, compared to its average volume of 30,837,840. The company has a market cap of $200.21 billion, a P/E ratio of -79.97, a PEG ratio of 2.76 and a beta of 0.79. AT&T has a 12-month low of $26.35 and a 12-month high of $33.88. The stock’s 50-day moving average is $29.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.82.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Friday, July 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.42%. The ex-dividend date is Thursday, July 8th. AT&T’s dividend payout ratio is currently 65.41%.

In other AT&T news, CEO John T. Stankey acquired 34,614 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The stock was purchased at an average cost of $28.81 per share, for a total transaction of $997,229.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Pascal Desroches acquired 3,056 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The stock was acquired at an average price of $29.06 per share, with a total value of $88,807.36. Following the completion of the acquisition, the chief financial officer now directly owns 173,871 shares of the company’s stock, valued at approximately $5,052,691.26. The disclosure for this purchase can be found here. Corporate insiders own 0.08% of the company’s stock.

An institutional investor recently bought a new position in AT&T stock. OLD Mission Capital LLC bought a new position in shares of AT&T Inc. (NYSE:T) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 15,890 shares of the technology company’s stock, valued at approximately $453,000. 50.40% of the stock is owned by institutional investors.

Several research firms have issued reports on T. Royal Bank of Canada began coverage on AT&T in a report on Thursday. They issued a “hold” rating and a $30.00 price target on the stock. Tigress Financial reiterated a “buy” rating and set a $36.00 price objective on shares of AT&T in a research report on Friday, July 9th. Morgan Stanley cut shares of AT&T to an “equal weight” rating and set a $29.00 price objective on the stock. in a research report on Friday, July 16th. Oppenheimer reiterated a “hold” rating on shares of AT&T in a research report on Monday, April 26th. Finally, Redburn Partners started coverage on shares of AT&T in a research report on Friday, June 25th. They set a “sell” rating and a $23.00 price objective on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $31.39.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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Earnings History for AT&T (NYSE:T)

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